Ingevity (NGVT) Scheduled to Post Quarterly Earnings on Tuesday

Ingevity (NYSE:NGVT) will be posting its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Ingevity to post earnings of $0.60 per share for the quarter. Ingevity has set its FY 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.04). Ingevity had a negative net margin of 27.85% and a positive return on equity of 19.59%. The business had revenue of $390.60 million during the quarter, compared to analysts’ expectations of $407.58 million. During the same period in the prior year, the firm posted $1.41 EPS. Ingevity’s revenue for the quarter was down 18.9% compared to the same quarter last year. On average, analysts expect Ingevity to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ingevity Price Performance

Shares of NGVT opened at $33.65 on Friday. Ingevity has a twelve month low of $30.90 and a twelve month high of $56.29. The stock’s 50 day moving average is $36.67 and its two-hundred day moving average is $42.61. The firm has a market capitalization of $1.22 billion, a PE ratio of -2.83 and a beta of 1.62. The company has a current ratio of 1.92, a quick ratio of 1.07 and a debt-to-equity ratio of 4.92.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets lowered their price objective on Ingevity from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. Oppenheimer reduced their price target on shares of Ingevity from $58.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. CJS Securities upgraded shares of Ingevity from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price target on shares of Ingevity from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Ingevity Company Profile

Ingevity Corporation manufactures and sells activated carbon products, derivative specialty chemicals, and engineered polymers in North America, the Asia Pacific, Europe, the Middle East, Africa, and South America. It operates through three segments: Performance Materials, Performance Chemicals, and Advanced Polymer Technologies.